CarMax (KMX) Given a $89.00 Price Target at Morgan Stanley

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Morgan Stanley set a $89.00 target price on CarMax (NYSE:KMX) in a report released on Wednesday. The firm currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the company. TheStreet upgraded CarMax from a c+ rating to a b rating in a research note on Friday, June 1st. ValuEngine upgraded CarMax from a hold rating to a buy rating in a research note on Friday, June 22nd. Gabelli assumed coverage on CarMax in a research note on Wednesday, June 6th. They issued a buy rating and a $95.00 price target for the company. Wedbush set a $75.00 price target on CarMax and gave the stock a buy rating in a research note on Tuesday, May 29th. Finally, Zacks Investment Research upgraded CarMax from a hold rating to a buy rating and set a $86.00 price target for the company in a research note on Tuesday, July 10th. Ten equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company has an average rating of Buy and an average target price of $83.53.

NYSE:KMX opened at $77.68 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 2.30 and a debt-to-equity ratio of 3.80. The firm has a market capitalization of $13.54 billion, a PE ratio of 20.99, a P/E/G ratio of 1.13 and a beta of 1.55. CarMax has a one year low of $57.05 and a one year high of $81.67.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Friday, June 22nd. The company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.24 by $0.09. The firm had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.60 billion. CarMax had a return on equity of 21.54% and a net margin of 3.98%. CarMax’s revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.13 EPS. sell-side analysts expect that CarMax will post 4.6 EPS for the current fiscal year.

In other CarMax news, SVP Darren C. Newberry sold 1,831 shares of the firm’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $73.80, for a total value of $135,127.80. Following the completion of the sale, the senior vice president now owns 2,481 shares of the company’s stock, valued at $183,097.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP James Lyski sold 3,738 shares of the firm’s stock in a transaction dated Tuesday, June 26th. The stock was sold at an average price of $75.43, for a total transaction of $281,957.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 666,816 shares of company stock valued at $50,495,526. 1.97% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in KMX. Check Capital Management Inc. CA bought a new stake in CarMax in the first quarter worth about $50,061,000. Epoch Investment Partners Inc. purchased a new position in shares of CarMax during the first quarter worth approximately $36,954,000. Millennium Management LLC increased its position in shares of CarMax by 4,279.2% during the second quarter. Millennium Management LLC now owns 488,592 shares of the company’s stock worth $35,604,000 after acquiring an additional 477,435 shares during the period. Douglass Winthrop Advisors LLC purchased a new position in shares of CarMax during the second quarter worth approximately $29,704,000. Finally, Principal Financial Group Inc. increased its position in shares of CarMax by 4.3% during the first quarter. Principal Financial Group Inc. now owns 9,658,783 shares of the company’s stock worth $598,264,000 after acquiring an additional 402,543 shares during the period.

About CarMax

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates in two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles; vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions; and extended protection plans to customers at the time of sale.

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Analyst Recommendations for CarMax (NYSE:KMX)

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